Monday, 15 August 2016

{NEW} EPF Rules And Regulations for withdrawal

EPF Rules And Regulations for withdrawal - If you want to know that new rule of the EPF withdrawal form and rules and regulation you can check it out here. For more details about the employee provident fund. Provident fund is one of the best retirement shavings. Whenever you need requirement for the money like home renovation, medical treatment, wedding function and many more things you can check it out here. If you want to open new epf account than you have to follow some process and procedure. Once you open epf account than you have to invest small amount every month.

EPF Rules and Regulation

EPF full form isemployee provident fund its government scheme and it will help you to rights way to withdraw the payment when old age, sickness as well as disablement needs to be made by every state in India. Following are new rules and regulation of the employee provident fund.

Following are all Employee Provident Fund news rules.

You can all withdraw pf amount for self, children, siblings or some service.

All person can withdraw up to either 6 times of the monthly salary or total use with the parents as well as children.

You can use the best of the account. the salaried employee must be aware of what type of provident fund account entails as well as how it operated.

Government also passed the some of the new rules and regulation check it out here.

Check it out Latest New Rule of EPF

Wherein the employees are assuming a cumbersome claims process it may help to withdraw account in EPF at the time of leaving an organization.

A salaried employee may withdraw money from EPF accounts for various reasons. As per the rule, the employee can withdraw amount for self, children and siblings and she or her completed minimum of 7 years for withdrawing the amount in EPF.

The person can withdraw required amount up to 6 times of her or his total corpus or monthly salary towards medical treatment of parents, children, and spouse.

As per the rule, the person withdraws amount for the home loan repayment, the home should be registered in her or his name and be held jointly. And it requires a minimum of ten years to withdraw up to 36 times.

An individual must be 54 years old to withdraw an amount up to 90% of the total salary of her or his EPF account.

You can also withdraw amount for house alteration or renovation and house should be registered in her or his name. In the type of withdraw required minimum of 5 years and up 12 times they allow to

So, above is each and every new rules and regulation of the employee provident fund.